Bank could not have continued the proceedings under the SARFAESI Act once the Corporate Insolvency Resolution (CIRP) was initiated and the moratorium was ordered.
SUPREME COURT OF INDIA DIVISON BENCH INDIAN OVERSEAS BANK — Appellant Vs. M/S RCM INFRASTRUCTURE LTD. AND ANOTHER — Respondent ( Before : L. Nageswara Rao and B.R. Gavai, JJ.…